In a CoinGecko snapshot retrieved around 4:41 a.m. ET (09:41 UTC) Nov. 4, Zcash (ZEC) traded at $1,278.22, up 12.4% over 24 hours, ahead of the planned NU7 upgrade.
NU7 will take effect when the network reaches block 3,543,405, an activation point set by Zcash ZIP editors on Oct. 21.
NU7 will reduce the target interval between blocks from 75 seconds to 25 seconds. The Zcash Foundation expects the average wait for a first confirmation to become about one-third as long. Changes to block rewards are designed to keep daily ZEC issuance unchanged.
The upgrade will place 60% of transaction fees in a reserve for future block rewards, leaving 40% for miners. The Foundation says the reserve is intended to support network security as block rewards decline through halvings. Zcash’s supply cap remains 21 million ZEC.
Operators need to install NU7-compatible software before activation to continue following the upgraded network. NU7 will also invalidate version 4 transactions, leaving funds still held in the legacy Sprout pool unspendable after the change takes effect.
CoinGape has reported a $1,500 target for ZEC, but that price forecast is unverified. The Foundation’s upgrade announcement makes no price projection.
The next checkpoint is block 3,543,405. The Foundation estimates the network will reach it around Nov. 5 but has given no fixed activation time.
